Foreclosure

Homeowner Beats Bank of America in Small Claims Court

January 6, 2011

A California homeowner sued Bank of America(BOA) in Small Claims Court after they denied his modification request and initiated the foreclosure process. Dave Graham, who lives in California, applied for a loan modification under the Obama administration’s Home Affordable Modification Program (HAMP), which is supposed to give eligible borrowers a “permanent” five-year modification if they make […]

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Lenders, Servicers Scramble To Shift Foreclosure Cases To New Firms

December 17, 2010

News came out this week that foreclosures fell in November to their lowest levels in the past 18 months (http://tiny.cc/92wrq). This seemingly positive data is clearly a result of the foreclosure freeze enacted by most banks following the revelation that lenders improperly handled millions of foreclosure cases. As lenders and loan servicers scramble to correct […]

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Boston Foreclosure Fighters: ‘Banks Are Deceptive In Hosts of Ways’

December 9, 2010

It is no secret that lenders’ foreclosure practices have been placed under the magnifying glass since the recent revelation that the banks’ use of robosigners called into question the validity of millions of foreclosures throughout the United States.  Recent news out of Boston focuses on a ‘host’ of deceptive practices banks are using in order […]

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492 Days From Default to Foreclosure

December 8, 2010

According to mortgage-data provider LPS Applied Analytic, 492 days have elapsed since the average homeowner in foreclosure made a mortgage payment. In short, people are defaulting on their mortgage loans faster than banks are able to effectively carry out the foreclosure process. Homeowner’s that owe considerably more on their mortgage than the fair market value of their home […]

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